Huntington Ingalls Industries (HII) is in the news for a variety of reasons. Stifel Financial Corp and Barclays PLC, among other significant finance entities, have increased their stakes in HII. HII is also bolstering their leadership team, including appointing Kari Wilkinson to lead their Newport News Shipbuilding. The company is expanding in various ways, such as their acquisition of W International assets and the announcement to build a new health center with Fletcher Construction. However, they've faced some criticisms, including allegations of fraud and poor quality control in their submarine and warship welding. Despite the challenges, HII has reported record revenues for Q2 2024 and enjoys a backlog of $48.5B at the end of the quarter. The company also has secured several hefty contracts, including a $6.7B contract for electronic warfare support and a $458M deal for modernizing IT Architecture for the U.S. Department of Defense. HII’s financial outlook for 2024 was reduced due to contract delays and supply chain issues, leading to a decline in the stock price. Regardless, the company is determined to overcome these obstacles by leaning into defence tech business for future growth.
Huntington Ingalls Industries HII News Analytics from Sun, 03 Apr 2022 16:12:15 GMT to Sat, 14 Dec 2024 10:14:30 GMT -
Rating -2
- Innovation 3
- Information 7
- Rumor -3
